WMT wheel: cash-secured put & covered-call yields
Walmart Inc. Common Stock · Consumer discretionary · $107.98 close on Sep 25, 2026
What the Sep 25, 2026 close says about WMT
At 19.9% implied volatility, the options market is pricing a one-standard-deviation move of about $6.65 (6.2%) in WMT by Oct 30, 2026, 35 days out.
Selling the $105 put (−0.31Δ) for $1.69 means assignment would leave a cost basis of $103.31, 4.3% below the $107.98 close.
At 0.30Δ on the Oct 30 expiry the put yields 1.61% on its strike and the call 1.57% on spot: puts and calls pay within 10% of each other on WMT this session.
Moving down to the $102 put (−0.20Δ) buys 2.8% more room below spot and keeps 55% of the 0.30Δ premium.
Open interest in the stored window totals 51,301 contracts; the largest single line is the $120 call expiring Dec 18 with 7,250 (14.1% of the window).
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on WMT
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $105 | −0.31 | $1.69 Sep 25 | $169.00 | $10,500 | 1.61% | 16.8% | $103.31 | 166 | 27 |
| 0.20Δ | $102 | −0.20 | $0.93 Sep 25 | $93.00 | $10,200 | 0.91% | 9.5% | $101.07 | 127 | 28 |
Snapshot #20 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $97.50 | −0.19 | $1.66 Sep 25 | $166.00 | $9,750 | 1.70% | 7.4% | $95.84 | 3,699 | 42 |
Snapshot #20 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 84
Covered calls on WMT
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $112 | 0.33 | $1.69 Sep 25 | $169.00 | 1.57% | 16.3% | 5.29% | 55.1% | 643 | 35 |
| 0.20Δ | $115 | 0.20 | $0.95 Sep 25 | $95.00 | 0.88% | 9.2% | 7.38% | 77.0% | 691 | 325 |
Snapshot #20 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 35
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | Unavailable1 | |||||||||
| 0.20Δ | $120 | 0.24 | $1.91 Sep 25 | $191.00 | 1.77% | 7.7% | 12.90% | 56.1% | 7,250 | 1,751 |
Snapshot #20 · session 2026-09-25 · captured 08:07 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 84
WMT volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 19.9%session 2026-09-25
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- Ex-div Dec 11, 2026 · $0.25 declaredchecked Sep 27, 2026
- Open interest, stored window
- 51,301 contractssession 2026-09-25
- Largest open-interest line
- $120 call · Dec 18 · 7,250
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- Unavailable5
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- No contract near 0.30Δ traded this session
- We are building our own daily implied-volatility history (1 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.
- Not ranked yet — liquidity ranks are computed at the weekly re-rank of the whole universe.